Sensex sheds 906 pts, Nifty slips below 22k amidst turmoil in small-, mid-cap segments

Sensex, Nifty updates on 13 March 2024: Stock markets experienced significant turmoil, with the BSE Sensex declining 906.07 points, or 1.23%, to 72,761.89 and the NSE Nifty falling 338 points, or 1.51%, to 21,997.70. On the BSE, number of stocks hitting lower circuit reached 1,087 against 118 stocks that hit upper circuit.

Market breadth was negative, with 3,521 stocks declining, 404 advancing, and 60 remaining unchanged. Among the sectoral indices, Nifty realty, metal, and media declined over 6% each. Nifty Smallcap 100 declined 5.28%, while Nifty Midcap 100 was down by 4.40%. Concerns about excessive valuations in mid- and small-cap segments prompted mutual funds to halt lump sum investments in these categories.

Market experts emphasised caution, given the volatility in these segments. They also highlighted the potential for further declines. Within the Sensex pack, ITC, ICICI Bank, Kotak Mahindra Bank, Nestle India, Bajaj Finance and HDFC Bank were the only gainers. On the other hand, Power Grid Corporation was the major laggard with a 7.28% erosion in share value.Stock Market| Share Market Updates - Find here all the updates related to Sensex, Nifty, BSE, NSE, share prices and Indian stock markets for 13 March 2024.